10/05/09. ForexExperts Review and Other News

THIS PROGRAM HAS STOPPED PAYING! PLEASE DON’T INVEST!

Hi guys! As usual let me first say that I hope everyone’s weekend is going well and you are all relaxing as is my own favorite activity (or lack of activity!) for Sunday. Still time for a review of course and today I’m looking at a newly launched HYIP called ForexExperts.

Let me say first that ForexExperts has been launched by a regular reader of money-news-online and while that will not result in any preferential treatment of the program from me, I will nevertheless wish every success to the admin and hope it works out for everyone involved. So what’s it all about? Well it’s what would be called, in the HYIP world anyway, a long term low ROI program. There are three plans for you to choose from, with only two of them realistically within the means of most investors reading this. Also I should point out that deposits can be made in your choice of dollars or euros. For review purposes I’m only going to mention dollars as this is still the currency of choice for most readers.

The first plan, or the “Starter Plan”, runs for 90 days. An investment there will cost you a minimum of just one dollar so from the very beginning we can see that this program is being thrown open to just about everyone. The rate of interest payable here, as in the other two plans, is variable and will reflect the occasional ups and downs of ForexExperts performance. But basically you are promised a daily minimum of 1.8% which may or may not rise to a maximum of 2.2% from time to time. If you are calculating your potential profit I suggest you work with the lower figure as that is all you are really being guaranteed by the admin. Take anything else as a bonus. So a theoretical investment of $100 will get you a daily income of at least $1.80 meaning you will break even after 56 days and complete your investment term with a total return of $162. Your principal is already factored into these payments so that will not be returned. So your total profit is 62%. Of course it might be more, but don’t make plans based on assumptions.

The next option is the “Normal Plan” and is really for the bigger spenders out there. It will cost you at least $1000 to join. Again it runs for 90 days and again the return is variable. This time the rate fluctuates between 2.2% and 2.8%. That means if you join with the minimum allowed principal you can expect a minimum payment of $22 per day, breaking even after 46 days and finishing with a total return of $1980. And that figure is pure profit as your principal does get returned in this plan.

The final plan will cost you $100,000 to join so I won’t waste any body’s time by mentioning it further. Contact the admin directly if there is some reason you want information on it.

The payment options available to ForexExperts customers include LibertyReserve, PerfectMoney, C-Gold, and Pecunix. Not a great choice, but still standard fare from an average HYIP and kinda compensated for by the fact that you can join for just a single dollar. I think my favorite feature though is probably the direct payments. There is no need to request them, either for interest payouts or for ref commissions. They are made automatically every day to your chosen e-currency. Payouts are made daily, including weekends.

Quite a good effort was made on security too. The script was custom made by the admin herself so kudos to her for that. And the site is also hosted on a dedicated server with anti-DDoS protection by BlackLotus. So no serious problems are expected on that front. You also select your own password and give yourself added protection with a private security question. Customer support is available via the usual e-mail ticketing system. But while a telephone number is not actually listed, you are invited to leave your own number and request a callback. Any readers with experience of this, positive or otherwise, feel free to let me know. The design is simple and easy to navigate with nothing very complicated there at all.

As I said at the start the admin is a reader here so she should by now be well aware of what I have to say about her supposed connection with the world of ForEx trading. The homepage states “please do not compare us to something like “games” that are always coming and going”. Sorry but that is just not going to happen. There are just too many obvious holes in that story to be ignored. For instance market trading stops on Friday, so how are payments calculated and made on Saturday and Sunday? Plus the glaringly obvious question of why it is so much more expensive to invest with euros than with dollars? The “Normal” plan will cost you a minimum of $1000, but will cost a minimum of €1000 if you prefer that currency. That is equal to around $1350. How can this be missed by of all people a “forex expert”? Apart from that the texts are also a straight copy/paste from another website and a quick search on Google will illustrate that. Common practice in the HYIP industry by now unfortunately. I wouldn’t make to big a deal out of that by itself, but just take it as another clear indicator that this is indeed a game.

I think most regular readers know by now that I would be skeptical about this anyway, so I suggest you ignore the admin’s pleas on the home page and treat ForexExpert entirely as a game. There are better games than this around, but if you have already joined them, then this might be OK for a little diversification.

Other news for today.

The newly reviewed ForexExperts became the latest victim of blackmailers which threatened to cast bad votes on popular monitoring sites unless the admin pays them a ransom. Well, rest assured the admin won’t pay those lowlifes as I just received this email today:
“Dear members, We have found some bad votes on Goldpoll. And I am sure it is from Hyip365.net, because I recived a mail from them “Last chance or buy you from us positiv votes or we destroy your site today!!”
That is the truth and I will not pay anything to such guy.”

Did anybody think I forgot about USDozen which in the most promising new autosurf in my opinion? Not at all. The thing is that the first payouts will be processed in 5 days from now but the program was able to collect more than $12K in upgrades which is a very good level for only 6 days online. As I said already the first payouts from USDozen will be commenced in a few days as the program is paying 11% for 11 days (121%) on expiry. I’m planning an interview with the admin of USDozen Roger but so far I found him as a very proactive person on various forums, especially MMG where he has already answered the question about their protection:
“I trust the service of HushHosting for the DDOS protection we have. I am up for the challenge but we all need to help each other. Members only need to support the program and I will be here to do what I am here to do, and that is to provide everyone excellent service. I do not have any bad intentions for this program. I just want it to last long just like you do.”
Moreover, the admin of USDozen promised to implement phone support for the site in a couple of days from now. So the members should be able to get top-notch support from the admin pretty soon. You can read all the details about USDozen aurtosurf in my comprehensive review published here.

Somebody asked me if its still safe to invest in GearsOfProfit (reviewed here). Well, since the admin introduced the new rules against hit-n-runners it scared off big investors who have no reason now to invest hundreds into the program with the current withdrawal limitations for big investors. So in my opinion it is still safe to invest in GearsOfProfit under one condition: you’re a small investor with $50 or less in deposits and you play with money you can afford to lose in the program. Remember that GearsOfProfit is a high-risk HYIP-game so treat it accordingly and don’t lose your head when playing.

Good news for the members of FlowBroker (reviewed here). Today I got my principal back from the program and I know that a couple of other investors were paid as well. So my choice was right again and those who joined in FlowBroker under me when they first saw the review on my blog should be in profit by now. Even the lowest rate of 2.6% for 50 days will give you 130% of pure profit with 100% principal returned after your investment term expires. And if you are brave enough to join FlowBroker now, after 50 days online, with $501 or more in deposits the admin of the program prepared a sweet bonus for you which he discussed in his latest update and which will be available for the investors for 5 days only:
“Dear Member Investor, We would be happy to inform to all client, this week we make high profit on market. So for celebrate this good transaction, we decide give some bonus 15% from deposit who member make an investment minimum $501 (on plan 2 – plan 5). This bonus only valid start from 10 May 2009 and end 15 May 2009.
Thank you for all member already joined and support the program, we try the best for make good profit on market together.”

That is all the news for today and I’ll see you on my blog tomorrow. But first I would like to let you know which programs paid me today: PrismoFunds, GearsOfProfit, ForexExperts, AsianInvestGroup, NovalexFinance, DamexTrade, EwoCapital, Poplans, FlowBroker, HighRiseFinance, OakCash and ImperialFinances. By the way, I got the last payment from the Weekly plan in ImperialFinances (reviewed here) today and deposited this time into the Daily plan. Stay tuned and see you soon!